Mathematics for FinanceMTP Nov 21Question 1334 of 479
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He effective rate of interest equivalent to the nominal rate of 7%\displaystyle 7\% converted monthly:

Options

A7.26%\displaystyle 7.26\%
B7.22%\displaystyle 7.22\%
C7.02%\displaystyle 7.02\%
D7.20%\displaystyle 7.20\%
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Correct Answer

Option b7.22%\displaystyle 7.22\%

All Options:

  • A7.26%\displaystyle 7.26\%
  • B7.22%\displaystyle 7.22\%
  • C7.02%\displaystyle 7.02\%
  • D7.20%\displaystyle 7.20\%

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